DE Burlo Group Inc. Sells 108,550 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• DE Burlo Group Inc. has reduced its holdings in Advanced Micro Devices, Inc. by 44.3%, selling 108,550 shares and now retaining 136,735 shares, which represents about 2.1% of its investment portfolio.
• Institutional investors currently own 71.34% of Advanced Micro Devices' stock, indicating significant institutional interest and confidence in the company.
• Advanced Micro Devices has authorized a $6.00 billion stock repurchase program, suggesting that the company believes its shares are undervalued in the market.

DE Burlo Group Inc. lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 44.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,735 shares of the semiconductor manufacturer's stock after selling 108,550 shares during the quarter. Advanced Micro Devices accounts for approximately 2.1% of DE Burlo Group Inc.'s investment portfolio, making the stock its 21st biggest holding. DE Burlo Group Inc.'s holdings in Advanced Micro Devices were worth $14,048,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Toronto Dominion Bank grew its holdings in Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after purchasing an additional 4,461,609 shares during the period. Nicolet Bankshares Inc. increased its holdings in shares of Advanced Micro Devices by 56.4% in the fourth quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock valued at $426,000 after purchasing an additional 1,271 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Advanced Micro Devices by 12.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after purchasing an additional 29,825 shares during the period. Heritage Trust Co acquired a new stake in shares of Advanced Micro Devices during the 4th quarter worth about $804,000. Finally, Centric Wealth Management boosted its holdings in shares of Advanced Micro Devices by 20.6% during the 4th quarter. Centric Wealth Management now owns 14,567 shares of the semiconductor manufacturer's stock worth $1,760,000 after buying an additional 2,487 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

Insiders Place Their Bets

In related news, EVP Mark D. Papermaster sold 17,998 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total value of $2,790,229.94. Following the sale, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. The trade was a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company's stock.

Advanced Micro Devices Trading Up 2.7%

NASDAQ:AMD opened at $166.47 on Friday. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $174.05. The firm has a 50-day moving average price of $132.24 and a two-hundred day moving average price of $114.51. The firm has a market cap of $269.91 billion, a price-to-earnings ratio of 122.40, a price-to-earnings-growth ratio of 2.14 and a beta of 2.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the company posted $0.62 earnings per share. Advanced Micro Devices's quarterly revenue was up 35.9% compared to the same quarter last year. On average, equities analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has authorized a stock repurchase program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AMD shares. Roth Capital set a $150.00 price objective on Advanced Micro Devices and gave the stock a "buy" rating in a report on Friday, June 13th. Citigroup upped their price objective on Advanced Micro Devices from $145.00 to $165.00 and gave the company a "neutral" rating in a report on Friday, July 18th. DZ Bank raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 target price for the company in a report on Thursday, May 8th. Cantor Fitzgerald restated an "overweight" rating on shares of Advanced Micro Devices in a research note on Monday, June 9th. Finally, Piper Sandler set a $270.00 price objective on shares of Advanced Micro Devices and gave the company an "overweight" rating in a report on Thursday, July 10th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $154.68.

Advanced Micro Devices Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.

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